Getting started

Cannabis banking is governed by federal rules that determine whether your account stays open, how you handle cash, and what your bank requires from you. Even though cannabis is legal in New York, it remains illegal at the federal level, which triggers enhanced banking oversight. Banks must follow federal anti–money laundering rules when working with cannabis businesses. Your role is to keep records clean, consistent, and explainable.

This page explains the taxes you owe, the reports you must file, and the timelines that keep a New York dispensary compliant throughout the year.

The New York City Department of Buildings (DOB) regulates how your dispensary is built, altered, and approved for lawful use. If work is not permitted, inspected, and signed off by DOB, you cannot legally open and may be shut down at any time. These rules apply even if you have never dealt with construction, permits, architects, or Certificates of Occupancy before.